CHILE’S antitrust regulator has approved the joint mining plan between state copper producer Codelco and Anglo American at the Andina-Los Bronces project in the Andes mountains of central Chile, according to a report by Reuters.
The approval follows similar clearances from competition watchdogs in China, Brazil and South Korea. Remaining steps include environmental permits, the creation of a shared operating entity and consultations with local communities, the newswire said.
“The project continues to advance with its regulatory approval process, while preparations are underway for the environmental permitting process and the establishment of the entity that will coordinate the joint operation,” Codelco said.
The two miners finalised their agreement to combine operations at neighbouring copper mines last September. The deal aims to generate at least $5bn through higher production and cost savings, with output expected to rise by 120,000 tons of copper a year once the venture is fully operational.
The plan brings together certain operations at Codelco’s Andina mine and Anglo American’s Los Bronces mine in the Andean foothills west of Santiago.
Chile is the world’s largest copper producer and Anglo American is among the country’s most significant mining operators. The partnership marks one of the more consequential copper joint ventures in the region in recent years, combining two established and geographically adjacent operations under a single coordinating structure.
